Geologic formations are used for many purposes such as hydrocarbon production, geothermal production and carbon dioxide sequestration. Boreholes are typically drilled into an earth formation in order to intersect and/or access the formation. Various types of drillstrings may be deployed in a borehole. A drillstring generally includes components, such as those making up a drill pipe or a bottomhole assembly. The bottomhole assembly contains drill collars which may be instrumented and can be used to obtain measurements-while-drilling or -while-logging. The drill pipe may likewise be instrumented with measurement devices (referred to as distributed sensors) and can be used to obtain along-string-measurements. Wear or damage to the components may occur through regular exposure to downhole conditions. In particular, material fatigue of components may occur due to cyclic loading of components or other downhole conditions. While deployed in the borehole, the components of the drillstring may be subject to vibrations, elevated temperatures, and a variety of forces or strains which compound material fatigue.